Fiscal patient to remain in the ICU

The budget that the government presented on 28 February had a much higher level of anticipation due to the variety of formidable economic challenges that the country is facing. Redemption from problems starts with an admission of guilt. However, in its macroeconomic framework statement, the government has pinned the growth slowdown on global industries and slowing of India’s industrial growth caused, in turn, by the tight monetary policy of the Reserve Bank of India. There is no mention of the many mistakes that this government has made...

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